someone banked my cheque early

ERICS_MUM

Voyager2002 wrote: »

Except that if I make a future-dated Faster Payment, I am not giving my payee any assurance of getting paid.

Nor are you with a cheque. It might be rejected for a few reasons - signature, words & figures, wrong payer name, no funds, stopped account, suspicion of fraud or money-laundering etc.

bengal-stripe

Voyager2002 wrote: »

Except that if I make a future-dated Faster Payment, I am not giving my payee any assurance of getting paid.

If your payee doesn't trust your word, s/he is not likely to trust your cheque until actually paid.

JuicyJesus

Voyager2002 wrote: »

Except that if I make a future-dated Faster Payment, I am not giving my payee any assurance of getting paid.

As pointed out by others, neither can a cheque be considered that until it's actually banked and cleared. A cheque can be stopped at any time, funds can be withdrawn from the account, the account can be closed...

In fact, there's no way of getting any assurance that someone definitely will pay you, which is why banks credit score and the rest of us essentially have to go on trust and contract with everyone from our employers to family borrowing money. Post dated cheques are a shonky way of promising someone money that doesn't really work and can screw either party with ease. Cheques in general should go the way of the dodo.

maz2702

"that said if its paid in using a paying in machine or envelope system is may have been overlooked or the cashier didn't spot the date. "

Also when paying in by machine they only seem to go by the amount on the paying in slip not the actual cheque - my husband accidentally does that all the time.

molerat

maz2702 wrote: »

"that said if its paid in using a paying in machine or envelope system is may have been overlooked or the cashier didn't spot the date. "

Also when paying in by machine they only seem to go by the amount on the paying in slip not the actual cheque - my husband accidentally does that all the time.

Paying in slip ? - have we slipped back into the 20th century ? - all the machines I use read the cheque

ERICS_MUM

molerat wrote: »

Paying in slip ? - have we slipped back into the 20th century ? - all the machines I use read the cheque

Our local branch has a 'post box' inside and a supply of envelopes. We put cheque and paying in slip in the envelope, fill in details on the envelope, tear off receipt bit of the envelope and post in the box.

Delightfully 20th century, but it's brilliant when there's a queue for the counter !

Westie983

molerat wrote: »

Paying in slip ? - have we slipped back into the 20th century ? - all the machines I use read the cheque

Paying in slips are used when you use the Express Paying In (EPI) envelope system, this could be used because there is a queue at counter and you don't have a card for the account or its a credit card so cant use the Immediate Deposit Machine (IDM)

Put the cash/cheque with the paying in slip inside the envelope and put it through a letterbox which is opened behind the counter and paid in when there is no queue or as part of the end of day procedures.

Joe_Bloggs

Juicy Jesus Said:-

Post dated cheques are a shonky way of promising someone money that doesn't really work and can screw either party with ease. Cheques in general should go the way of the dodo.

Some comments for discussion :-
It is a potential win for a bank if they can catch a fee for a dodgy dated cheque, hence they ignore the date.

Attempting to pay for things with money you don't have in place is perhaps evidence of a compulsive / desperate nature or banking delays in releasing money.

An electronic/internet book of negotiable instruments slips may be of more use than a cheque system.

J_B.

Pincher

I like cheques, less to go wrong.

Too many things go wrong online.

A recent case is a solicitor's e-mail got hacked, so the conmen sent the client a different account, who then paid the house money to the wrong account.

I made sure my solicitor had a copy of my bank statement, and said don't accept any other account by e-mail.

I find independent tradesmen prefer cheques anyway.
My old plumber, RIP, just handed the whole lot to his book keeper,
every few months. Unfortunately, this meant the cheque wasn't cashed for months, sometimes.

Bigger firms prefer electronic payments.
The bizarre thing is, despite the correct reference number, an admin person put it in the "Unknown" account, recently. The money was paid in in September, I chased in November, and they found it just like that. No explanation whatsoever. The dyslexic, illiterate school failure probably thought, what's that incomprehensible number at the end of the row.

Kernel_Sanders

Joe_Bloggs wrote: »

Attempting to pay for things with money you don't have in place is perhaps evidence of a compulsive / desperate nature

Or maybe they don't want the goods/services until pay day?